Norwegian Cruise Investors to Sell $600 Million of Shares

July 31 (Bloomberg) -- Norwegian Cruise Line Holdings
Ltd.’s three largest investors filed to sell about $600 million
of their stakes after a run-up in the share price since
January’s initial public offering.

Affiliates of Genting Hong Kong Ltd., Apollo Global
Management LLC and TPG Capital will sell 20 million shares,
according to a regulatory filing yesterday. The three will own
77 percent of Miami-based Norwegian Cruise Line after the sale.

Norwegian Cruise Line, the third-largest U.S. cruise
operator after Carnival Corp. and Royal Caribbean Cruises Ltd.,
has advanced 57 percent since the sale of 27.1 million shares at
$19 each in the IPO, giving it a market value of $6.07 billion,
according to data compiled by Bloomberg. The stock fell 1.7
percent to $29.76 at the close in New York yesterday.

New York-based Apollo and Fort Worth, Texas-based TPG
together paid $1 billion for half of Norwegian’s equity in
January 2008, data compiled by Bloomberg show. Genting owned the
line before the investment by the private-equity firms.

Norwegian Cruise Line won’t receive any of the proceeds.
Underwriters including UBS Investment Bank and Barclays have an
option to purchase as many as 3 million additional shares from
the sellers, according to the filing.